‘Engine for world economic growth’
CHINESE President Xi Jinping expressed the hope that the Group of 20 major economies (G20) will continue their partnership of win-win co-operation, support for multilateral free trade and leadership in innovation-driven growth.
Xi made the statement in an interview with Russian media before his departure for the July 3 – 4 state visit to Russia.
The Chinese president said it is significant for the G20 to work as a major international economic co-operation forum, to realise consensuses reached at G20 summits and to orient global growth, as tough challenges remain despite strengthening of the momentum in global growth and improvement of the economic situation in both developed and developing countries.
Expressing expectations for the G20 Hamburg summit scheduled for July 7 – 8 in Germany, Xi said he hopes that the summit will prompt the group to continue its partnership of win-win co-operation, which helped it tide over the international financial crisis.
“As long as we can include and tolerate one another, and offer timely help to one another, we will be able to steadfastly keep forging ahead and reach the other shore all together, regardless of whether it is sunny or rainy,” Xi said.
As a driving force for the global economy, the G20 should adhere to open development, support the multilateral trade system with the World Trade Organisation at the core and prompt trade and investment to continue playing the role as an engine for the world economic growth, Xi said.
The Chinese president believes the G20 should continue leading the development route of innovation-driven growth and longterm governance.
Countries need to continue tapping the new driving force for global economic growth by means of innovation, promote development of the digital economy and the industrial revolution, increase investment in infrastructure, and make a comprehensive use of financial policies, monetary policies and structural reform to prompt the global economy to realise robust, sustainable, balanced and inclusive growth, Xi said.
Xi said the agenda of the Belt and Road Forum for International Co-operation held in May in Beijing is highly consistent with the G20 Hamburg summit’s theme of “Shaping an Interconnected World.”
“The Belt and Road Initiative and co-operation within the framework of the G20 can complement and boost each other, so as to work together to promote global growth,” Xi said.
China is willing to work with all other parties at the Hamburg summit in order to contribute more to global growth and global economic governance, Xi said.
Proposed by Xi in 2013, the Belt and Road Initiative aims to build trade and infrastructure networks connecting Asia with Europe and Africa on and beyond the ancient Silk Road routes. It comprises the Silk Road Economic Belt and the 21st Century Maritime Silk Road.